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EPD: The adaptation period for the new law on regulating disposable plastics will expire on the 21st of this month.
The Environmental Protection Department announced that the 6-month adaptation period for the new legislation on single-use plastics will end in two weeks (October 21), reminding all relevant businesses to make preparations for the end of the adaptation period. A spokesperson for the Environmental Protection Agency stated that during the approximately 5-month adaptation period, the new legislation has successfully sparked a trend of "waste reduction" across all sectors. The dining industry has reflected that many takeaway customers have gradually become accustomed to bringing their own reusable tableware. Chain restaurants have indicated that about 80% of customers have chosen not to use takeaway utensils, with approximately 30% of restaurants no longer providing any takeaway utensils. In the retail and service sectors, property management companies have stated that the majority of residents have become accustomed to using umbrellas to remove water.
Coolpad Group (02369.HK) business operations are proceeding as usual in all major aspects, and the trading halt continues.
Coolpad Group (02369.HK) announced on September 30th that, as of this announcement date, despite the suspension of trading in the company's shares, the group's business operations are continuing as usual in all major aspects. The company will continue to closely monitor its financial condition and business operations, and will make further announcements as appropriate. Trading remains suspended.
COOLPAD GROUP: UPDATE ON PROGRESS OF RESUMPTION
Coolpad Group (02369.HK) has announced that its full-year loss is expected to narrow to 0.22 billion yuan.
Coolpad Group (02369.HK) issued a profit warning, expecting a loss between 0.22 billion to 0.225 billion yuan for the year ending 2023, compared to a profit of 0.625 billion yuan recorded in the previous year. The reduction in losses is mainly due to gross loss turning into gross profit, combined with significant reduction in sales and distribution expenses as well as administrative expenses.
Coolpad Group Expects Substantial Loss Reduction
Coolpad Group (02369.HK) expects a net loss of about 90 million to 95 million Hong Kong dollars in the first half of the year.
Coolpad Group (02369.HK) announced on September 5th that the Group is expected to record an estimated net loss attributable to owners of the company of approximately HKD 220 million to HKD 225 million for the fiscal year 2023, compared to a net loss of approximately HKD 625 million for the same period in 2022. The decrease in net loss is mainly due to the transformation of gross loss into gross profit, as well as significant reductions in sales and distribution expenses, as well as administrative and other expenses. The improvement is a result of the Group's adjustment to its product branding and sales incentive policies in 2023, as well as the restructuring of its composite channel structure, with a focus on reshaping its operator channels and launching low-cost e-commerce channels. Additionally,
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